The DeFi Staking feature in the Crypto.com Exchange lets eligible users deploy their virtual assets and participate in DeFi protocols for rewards.

You can lock up your tokens in the protocol vaults for a fixed or flexible period and receive regular rewards proportional to the staked amount.

The benefits of DeFi Staking include:

Security: Separate operational blockchain addresses and wallets are used to stake eligible user’s virtual assets to the DeFi protocols

*Dependent on the generation of rewards determined solely by the blockchain protocol.

Staking virtual assets comes with inherent risks, including:

Liquidity Risk and Market Volatility

If you have subscribed to a fixed staking period, you will not be able to access your virtual assets before the staking period ends. You are advised to consider the staking periods carefully before staking your virtual assets as liquidity risk is involved, and the value of the staked virtual assets may fluctuate during the staking lockup period.

Technical Risks

There are technical risks associated with DeFi Staking. These include error or security failures like smart contract failure, hacks, network critical delays, or exploits. Such technical risks may result in a loss of data or access to your staked virtual assets.

Pass-Through Risks

Please note that the Exchange only provides a pass-through service for you to participate in DeFi Staking. As a result, you will be subject to the terms, conditions, and risks of the relevant DeFi protocols. Please conduct your own due diligence on each of the DeFi Staking protocols, risks and mechanics, and consult your advisors before making any decision, including whether to participate in DeFi Staking and related transactions.

Crypto.com will only act on your instructions and facilitate your on-chain token transfers to and from DeFi protocols upon your expressed instructions. We do not assume any responsibility or liability for the performance, rewards, failure, reliability, or consequences of any third party services and/or any of the DeFi Staking protocols.

DeFi Staking rewards may be distributed separately from the staked virtual asset. For DeFi protocols with built-in yield-bearing receipt tokens, the rewards would be accrued from the expected increase in conversion rate of the receipt tokens over time.

Crypto.com currently supports the following DeFi protocols, where rewards are received separately from the underlying staked virtual assets:

Crypto.com currently supports the following DeFi protocols with built-in yield-bearing receipt tokens:*

*Yield-bearing DeFi tokens: When users stake tokens with a yield-bearing mechanism in DeFi protocols, the staked virtual assets will be converted to a receipt token on the blockchain at the DeFi protocol’s prevailing conversion rate, and start accruing yield from the expected conversion rate appreciation. When users unstake their virtual assets, the receipt token will be converted to the virtual asset at the DeFi protocol’s prevailing conversion rate. For more details on conversion rates, please refer to the ‘Conversion Rate’ (applicable to yield-bearing DeFi tokens only) section below.

For the estimated rewards rates, please refer to our website for the latest information. Reward rates shown are based on information from the DeFi protocol, exclude service fees charged by Crypto.com, and are not final. The actual reward rates are not guaranteed, and may change depending on the DeFi protocol. Rewards must exceed 0.00000001 of the token to be credited.

Past Transaction Statuses

The Staking History tab on the Staking page provides a record of all your DeFi Staking requests with their timestamps and current statuses.

DeFi Staking Requests and Balances

Your staked virtual assets will also reflect the status under Wallet > Balances. For example:

After the fixed staking period ends (where applicable), there will be no change or update to your staking request status (i.e., it will remain as ‘Staked’). However, your virtual assets will be deposited back to your Available Balance.

Users from the following jurisdictions are prohibited from participating in DeFi Staking.

Crypto.com reserves the right to revise the list above at any time. In addition, Crypto.com reserves the right to refuse, restrict, or prohibit access to all or any part of DeFi Staking to any user at our sole discretion.

Rewards Rates Dependent on Blockchain Network

Rewards Posting and History

Under Staking History, navigate to Rewards History for a detailed log of rewards activity. This page shows the exact timestamp of the credited rewards, the quantity credited, and the token rewarded. Only rewards greater than 0.00000001 will be distributed. The Rewarded Token column indicates the token being credited to your Wallet Balance.

Rewards Frequency

Rewards can be distributed up to three times a week, depending on the blockchain protocol. Please refer to the section above Which virtual assets does Crypto.com DeFi Staking currently support? for the rewards crediting destination. The expected rewards of DeFi protocols with yield-bearing receipt tokens would only be received after your unstaking request has been processed.

Staking More of the Same Virtual Asset

When you stake more of the same virtual asset, your new stake will only begin earning rewards when the transaction status changes to ‘Staked’ after the Activation Period ends; your previous stake will not be impacted. Stakes that reaches maturity will cease to receive rewards, and the virtual assets will be returned to your Available Balance.

Upgrading an Existing DeFi Staking Request to a Longer Period

The option to upgrade and stake for a longer period is currently not supported. Users can either commit to a longer staking period at the beginning by using funds from your Available Balance, or wait till the existing staking period ends to stake again.

How does the conversion rate affect my staked positions?

When users stake to DeFi protocols with built-in yield-bearing tokens, staked virtual assets will be converted to a receipt token on the relevant DeFi protocol at the prevailing conversion rate, and accrue yield from the expected conversion rate appreciation.

Your staked positions will be displayed in the staked virtual asset. For example, if a user stakes VVS (a yield-bearing DeFi token), their Wallet page will display the staked balance denominated in VVS.

This VVS balance shown is an estimation which incorporates the prevailing conversion rate between VVS and its receipt token (xVVS), which can fluctuate with time.

When users unstake, their receipt tokens will be converted back to the native token at the prevailing conversion rate and be credited to the user’s Wallet. If there has been an appreciation in the conversion rate of xVVS to VVS, the user would get back more VVS than they initially staked.

The conversion rate is solely determined by the DeFi protocol and is subject to change. The latest rates for VVS can be viewed here.

Staked virtual assets will not be eligible for trading or transfers. In addition, the staked positions cannot be used to contribute to your margin balance, and will have no collateral weight.

Service fees charged by Crypto.com are automatically deducted from your staking rewards.

The service fees for DeFi Staking assets are:

The service fees for DeFi protocols with built-in yield-bearing receipt tokens are:

Crypto.com reserves the right to charge differentiated fees depending on the user, meaning that some eligible users may have access to higher rewards rates compared to other eligible users. The fees may be updated from time to time at our sole discretion.